For two decades, risk management has been gaining ground in banking. In light of the recent financial crisis, several commentators concluded that the continuing expansion of risk measurement is dysfunctional (Power, 2009; Taleb, 2007). This paper asks whether the expansion of measurement-based risk...

This paper is concerned with characterizing decision rules for the sequential E-model of chance-constrained programming. A key feature of our characterization will be a detailed discussion of various interpretations of the probability operator in the chance constraints. Specifically we define...